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20121201
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. the president is cutting his vacation short to face the fiscal cliff. is he leaving hawaii for washington tonight. if lawmakers don't come up with a deal before the deadline your tax refund could be delayed by months. we are live in the washington bureau to explain more. >> reporter: brian the irs said without a deal as many as 100 million taxpayers may be forced to wait until march to file their tax returns. congress has to vote on the wealth tax and it needs to be adjusted for inflation. both partisay they would agree to it but it's all tied up in the fiscal cliff mess. tax filing season starts next week but the irs would put a hold on that for some. officials would wait for a deal in the new year instead of doing serious reprogramming to their tax system. filing would then be pushed back to march for millions. with refunds coming much later than usual. especially for those who plan on paying off credit card bills that often pile up after the holidays. now all of this could be avoided a deal before the deadline monday night but some long time lawmakers fear it won't happen, more on that
this holiday in hawaii. this is new video of them arriving at the air force base from overnight. the president said he will be back in washington next week to deal with the budget but he is not the only one leaving town. republicans and democrats, senators and representatives all headed home for the holidays before reaching any agreement on ways to avoid end of the year tax hikes and budget cuts. the house speaker used the gop weekly address to say republicans will maintain their focus on reaching a deal. >> i have challenged the members of our party to grapple with these issues, to make choices and we are willing to because washington has a serious spending problem. this was the year of the size our debt, all 16 trillon dollars of it passed the size of our economy. it's a grim milestone. >> both sides continue to blame the other for not compromising. with no agreement the budget cuts and tax hikes will go into effect january 1st. >> it's more likely than ever that eastern and gulfports will be shut down by a strike. nearly 15,000 dock workers at ports from boston to houston are ready to wa
short his hawaii vacation to return to washington and coming up, signs that president obama maybe reaching out to another republican leader after his negotiations with house speaker john boehner did not result in a deal. >> well, traffic don't in downtown san francisco could grind to a halt. that's because today is the last scheduled critical mass event for the year. for those new to the area, on the last friday of every month, dozens of cyclists ride alightning the waterfront and down market street and drivers are always advised to expect delays. >> peeking of, we haven't really seen any this morning. let's go to tara and see if that changed. >> no, the same story. maybe a lot of folks headed up to the tahoe area. maybe they already left as a matter of fact because the skiing is going to be pretty good up there. right now i want to show you my maps so you can see exactly what i'm talking about up here. the roadways are completely clear and in livermore the same story. overall a very nice commute this morning. 237, those taillights there on the far right hand side of your screen w
Search Results 0 to 2 of about 3